Bank of America Cuts Johnson & Johnson (NYSE:JNJ) Price Target to $159.00

Johnson & Johnson (NYSE:JNJGet Free Report) had its price objective lowered by analysts at Bank of America from $160.00 to $159.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s target price indicates a potential upside of 9.36% from the stock’s current price.

Several other analysts have also issued reports on JNJ. StockNews.com lowered Johnson & Johnson from a “strong-buy” rating to a “buy” rating in a report on Friday, January 17th. Citigroup cut their price objective on Johnson & Johnson from $185.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Guggenheim boosted their target price on shares of Johnson & Johnson from $156.00 to $162.00 and gave the stock a “neutral” rating in a report on Wednesday, November 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $215.00 price target on shares of Johnson & Johnson in a research note on Wednesday, October 16th. Finally, Wolfe Research initiated coverage on shares of Johnson & Johnson in a research note on Friday, November 15th. They set an “outperform” rating and a $190.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $173.20.

Check Out Our Latest Report on JNJ

Johnson & Johnson Trading Down 1.9 %

NYSE JNJ opened at $145.39 on Thursday. The stock has a market capitalization of $350.04 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 2.52 and a beta of 0.51. Johnson & Johnson has a 52 week low of $140.68 and a 52 week high of $168.85. The stock’s 50 day moving average price is $148.10 and its two-hundred day moving average price is $156.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 1.03.

Johnson & Johnson (NYSE:JNJGet Free Report) last announced its earnings results on Wednesday, January 22nd. The company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.99 by $0.05. Johnson & Johnson had a net margin of 19.14% and a return on equity of 35.45%. The business had revenue of $22.52 billion during the quarter, compared to analysts’ expectations of $22,438,500 billion. During the same quarter in the prior year, the company posted $2.29 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, analysts anticipate that Johnson & Johnson will post 9.95 earnings per share for the current fiscal year.

Insider Activity at Johnson & Johnson

In related news, Director Mark A. Weinberger acquired 1,000 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was purchased at an average cost of $147.22 per share, with a total value of $147,220.00. Following the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $147,220. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC raised its position in shares of Johnson & Johnson by 20,130.0% in the 3rd quarter. International Assets Investment Management LLC now owns 3,454,473 shares of the company’s stock valued at $559,832,000 after buying an additional 3,437,397 shares in the last quarter. Janus Henderson Group PLC raised its position in Johnson & Johnson by 228.1% during the third quarter. Janus Henderson Group PLC now owns 3,389,361 shares of the company’s stock valued at $549,223,000 after purchasing an additional 2,356,359 shares in the last quarter. Franklin Resources Inc. lifted its stake in Johnson & Johnson by 11.4% during the third quarter. Franklin Resources Inc. now owns 16,840,069 shares of the company’s stock worth $2,721,355,000 after purchasing an additional 1,729,281 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Johnson & Johnson in the 3rd quarter valued at $225,040,000. Finally, FMR LLC raised its holdings in shares of Johnson & Johnson by 7.4% during the 3rd quarter. FMR LLC now owns 18,316,920 shares of the company’s stock worth $2,968,440,000 after buying an additional 1,265,748 shares in the last quarter. Institutional investors own 69.55% of the company’s stock.

About Johnson & Johnson

(Get Free Report)

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.

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